Long Ridge Hits Hard Cap

Long Ridge Equity Partners has held an oversubscribed, hard cap, and final closing of Long Ridge Equity Partners III LP with $445 million of capital commitments.

Limited partners in the new fund committed $400 million of the capital and are comprised of endowments and foundations, public pensions, funds of funds, insurance companies, wealth managers, and family offices in North America, Asia, and the Middle East.

“We greatly appreciate the support and confidence of our new and existing investors, which allowed us to complete an oversubscribed fundraise on an expedited timeline,” said Jim Brown, founder and a managing partner of Long Ridge. “The resiliency of our existing portfolio companies through the COVID downturn, coupled with the consistency of our investment strategy and approach to value creation, ultimately resonated with a strong base of world-class investors.”

Fund III will continue Long Ridge’s strategy of investing from $10 million to $75 million of majority and significant minority investments in financial and business technology companies that have at least $5 million of revenue.

“This successful fundraise is a testament to the world-class founders and management teams that have partnered with Long Ridge to build their businesses,” said Kevin Bhatt, a managing partner of Long Ridge. “With Fund III, Long Ridge is well-positioned to back a new group of industry-leading financial and business technology entrepreneurs.”

Monument Group was the financial advisor and placement agent to Long Ridge and Proskauer Rose provided legal services.

Long Ridge Equity Partners was founded in 2007 and is based in New York City.

Private Equity Professional | October 14, 2020

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